OPERATIONS

Ann Taylor and Kate Hudson team for capsule collection, advocacy

BY Katherine Boccaccio

New York — Ann Inc. said Thursday that actress Kate Hudson will continue her role as the face of Ann Taylor for its spring and summer 2013 campaigns.

However, said the retailer, this year Hudson’s role will grow as both a design influence and charitable ambassador as well. For the summer collection, she will be developing a capsule collection for the brand. In addition, Hudson will join the Advisory Council for the company’s ANNpower Vital Voices Initiative, a program that supports the empowerment of young women.

Hudson will make her first foray into fashion design as she collaborates with creative director Lisa Axelson on the summer capsule, planned for a May debut. And Hudson’s broadened role as a member of the Annpower Advisory Council will allow the actress to continue her long-time work as an advocate for empowering young women.

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REAL ESTATE

Three major malls to be revamped

BY Katherine Boccaccio

Chattanooga, Tenn. — Mall owner CBL & Associates Properties said Thursday that, in 2013, it will complete multi-million dollar renovations at three major malls: Friendly Center in Greensboro, N.C.; Greenbrier Mall in Chesapeake, Va.; and The Mall of Acadiana in Lafayette, La.

The Mall of Acadiana – at one million-sq.-ft. and anchored by Dillard’s, Macy’s, J.C. Penney and Sears — will receive updated entrances, paint, new interior décor and graphics, upgraded restrooms, remodeled food court, new landscaping, as well as new amenities, including soft seating areas.

Friendly Center, a lifestyle and entertainment destination that features a 1.3 million-sq.-ft. complex, will receive updated walkway canopies and landscaping.

Greenbrier Mall will receive new upper-level carpet, paint, restroom upgrades, landscaping improvements, as well as a newly designed food court including new tables and chairs. The 900,000-sq.-ft. enclosed regional mall is anchored by Dillard’s, Macy’s, J.C. Penney and Sears.

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FINANCE

Study: Munich and Berlin top European commercial real estate investment prospects

BY Marianne Wilson

London — Three cities in Germany are ranked the top five European markets for commercial real estate investment, according to a report by the Urban Land Institute (ULI) and PricewaterhouseCoopers (PwC).

Munich took the top spot in the report, “Emerging Trends in Real Estate Europe 2013,” followed by Berlin, London, Istanbul and Hamburg. The ranking of 27 cities across Europe was based on respondents’ expectations for market performance in 2013.

Overall, the highest ranked cities were the larger Western European centers with international appeal and better economic prospects. The worst performing cities were those in countries at the heart of the Eurozone crisis or struggling to cope with the consequences of the 2008 financial meltdown, including Athens, Lisbon, Dublin, Madrid and Barcelona. Budapest came in last in the rankings.

“Almost five years since the start of the financial crisis, real estate investors remain cautious about capital deployment and the availability of debt” said Joe Montgomery, chief executive of ULI Europe. “As a result investors are focusing on the harder to find opportunities in blue-chip cities such as Munich, Berlin, London and Paris, rather than turning to secondary locations in search of higher returns.”

The study noted that Munich’s No. 1 ranking was based on a multiple factors, including its strong and liquid market, expanding demographics and low vacancy rates and constrained supply.

Berlin, which is dubbed by many as Europe’s “Silicon Allee,” was called out for its growing reputation as a technology hub and reputation as a cultural center.

The report called London “one of the world’s ultimate safe havens,” and that it is seen as sitting apart from the problems in the wider United Kingdom and European economies. The city’s size, strength and liquidity of its real estate market are attractive to many investors. Istanbul was cited for its future development opportunity.

“The city’s exciting real estate potential is driven by economic growth which rivals China and demographics where the average age in Turkey is only 29,” the report noted. “Recent changes have eased restrictions on foreign ownership of Turkish real estate, as the government seeks to attract international capital and transform Istanbul into a regional financial centre.”

Investor interest in Hamburg, Germany’s second largest city, is driven by its safe-haven status. The city benefits from a diverse mix of global occupiers and domestic small and medium sized businesses, according to the report.

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B.Sam says:
Sep-17-2013 08:20 am

Montgomery
“Almost five years since the start of the financial crisis, real estate investors remain cautious about capital deployment and the availability of debt” said Joe Montgomery, chief executive of ULI Europe.The Montgomery is detaily given quick transcription service. you can any ideas? click here

B.Sam says:
Sep-17-2013 08:20 am

“Almost five years since the start of the financial crisis, real estate investors remain cautious about capital deployment and the availability of debt” said Joe Montgomery, chief executive of ULI Europe.The Montgomery is detaily given quick transcription service. you can any ideas? click here

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